AddVentures by SCG, a Bangkok-headquartered venture fund, today announced that it has formed strategic partnerships with construction business management platform Builk, unmanned drone and robotics company for industrial and agriculture HG Robotics (both in Thailand ), and Indonesia’s online B2B marketplace Ralali, for prospective investments and partnerships.
Additionally, AddVentures said it will join Plug and Play, a Silicon Valley-based startup accelerator and an early investor in Google, Paypal and Dropbox. The collaboration will enable AddVentures to foray into the global startup landscape.
Dr. Joshua Pas, Managing Director of AddVentures, said: “All the five startups have some common features: 1) they have an outstanding operational model that resolves pain points in businesses and in their industries, 2) each has an experienced team who are highly proficient, and 3) they focus on industrial, B2B, and enterprise solutions that are in line with the investment criteria of AddVentures. As for the other three strategic partners, potential investments are under negotiations, which we hope will soon yield positive results.”
AddVentures by SCG was formally launched in mid 2017 to invest in startups domestically and globally. Such investment will help SCG (a Thai business conglomerate with presence in ASEAN) adopt new innovations in order to boost its competitiveness and provide better products and services to consumers.
The fund directly invests in startups in Thailand, ASEAN and global hubs such as Silicon Valley, Tel Aviv in Israel and Shenzhen in China. The firm targets three verticals — industrial, B2B and enterprise — that goes in line with the three core businesses of SCG, comprising of cement building materials, chemicals and packaging.
In addition, AddVentures also plans to invest in Funds of Funds.